The Pakistan Stock Exchange (PSX) declined by over 1,300 points on Wednesday, a day after the index posted a mild recovery following global market turmoil in response to fears that the trade war between the United States and China would escalate.

The benchmark KSE-100 index plunged by 2,640.95 points, or 2.29 per cent, to reach at 112,891.48 at 10:49am from the previous close of 115,532.43. By 2:56pm it recovered to 114,370.23, or 1.01pc below the last close.

Finally, the index declined by 1,379.28 points, or 1.19pc, to close at 114,153.15.

The decline comes as additional US tariffs on Chinese imports reached 104pc today, as Washington doubles down on planned action after Beijing vowed a “fight to the end” on levies.

Awais Ashraf, research director at AKD Securities, pointed out that the hike in US tariffs on........

© Dawn Business